Kishan Govindaraju, Director at Vaishnavi group: Given India’s rapid shift towards sustainability with its commitment to Net Zero carbon emissions by 2070, the real estate industry can play a pivotal role in helping achieve this objective while accelerating the growth of the sector. By incorporating sustainable construction materials such as recycled steel, fly ash bricks, bamboo, and low-VOC paints, developers can reduce environmental impact while enhancing building efficiency. A report by Resurgent India and NAREDCO suggests that the green buildings market in India is anticipated to rise significantly, contributing $39 billion (Rs 3.2 lakh crore) by 2025, making it an attractive business proposition as well.
By sustainably creating structures and implementing eco-friendly alternatives across the board such as flash or mud bricks, structurally insulated panels, bio-composites, etc, developers can reduce carbon emissions by up to 35 per cent and reduce maintenance cost by 20%, states KPMG. This can be achieved by actively using recyclable and renewable materials in construction to minimising energy consumption and reduce and recycle waste. Similarly, reducing water usage and recycling water from the construction site can lead to significant savings in cost for developers.
Green buildings are also becoming increasingly popular among homebuyers and occupiers as it offers long-term economic benefits in the form of reduced energy consumption by up to 20–30 percent and water usage by up to 50 per cent. Therefore, investors too are willing to pay a premium of 12-14% on average over non-green construction given its longevity and cost benefits.
However, this requires extensive collaboration of the governments, developers, academia and the civil society to introduce favourable policies for the entire construction ecosystem, and support innovation to reduce the input costs of sustainable alternatives. Furthermore, it also requires widespread awareness programmes on the long-term benefits of green buildings to widen the sustainability net by including developers, suppliers and the general public.
Angad Bedi, Chairman and Managing Director, BCD Group: Sustainable construction practices are necessary for fighting climate change, reducing pollution levels, and promoting zero-waste living in India. Toxic dust particles in construction debris constitute up to 30% of municipal solid waste in India. Considering the sorry state of affairs, adherence to zero-waste policies has become an urgent need to substantially reduce the burden on landfills and the environment.
To that end, at BCD Group, we are doing our bit by integrating resource-efficient planning, climate-responsive designs and utilising recycled materials to reduce costs and cut carbon emissions. Our adherence to sustainability approach is also in line with our vision of “building with purpose.” Furthermore, we believe in creating eco-friendly and resilient communities while driving economic growth.
The future of zero-waste construction in India appears bright because of increasing regulatory support and industry collaboration. Together, we can build a greener tomorrow by enhancing operational efficiency and delivering greater value. Moreover, by prioritising locally-manufactured sustainable materials and supporting local industries, we can contribute to economic growth and social development. By embracing these principles, we will also set an example for future generations to follow.